DONG Energy increases guidance for 2016

DONG Energy increases its Group operating profit (EBITDA) guidance to DKK 24-25bn from a previous range of DKK 20-23bn for 2016. Wind Power is now expected to report EBITDA towards the high end of the DKK 10-12bn range. The company also specifies its gross investments towards the lower end of the guided range of DKK 18-21bn. The increased guidance is triggered by the realisation of the farm-down of 50% of the offshore wind farm Race Bank. Further the increase is driven by strong operational performance and cost reductions in Oil & Gas, combined with results better-than-expected from both renegotiations of gas contracts and from operations in Distribution & Customer Solutions. ….